The Dangote Petroleum Refinery has again increased the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from #1,175 to #1,275 per litre.
The latest increase which marks the fifth upward review in March alone, comes barely hours after a previous revision to ₦1,245 per litre.
At the beginning of March, petrol from the refinery was sold at around ₦774 per litre.
The sharp increase follows the US-Israeli and Iran conflict which has disrupted global oil supply.
In a notice issued to its customers and marketers on Saturday, the refinery announced that the new price takes immediate effect.
The notice read, “Dear Valued Customer, kindly note that the prices contained in our previous correspondence are no longer applicable and should be disregarded.
“Please find below the current DPRP PMS gantry and coastal prices. The refinery increased its coastal price from N1,512,648 to N1,646,748 per metric tonne, while the gantry price rose from N1,175 to N1,275 per litre.”
The company stressed that the new price regime takes immediate effect.
“Please note that the revised price will apply to all unloaded gantry and coastal volumes and is effective from 12am on the 21st of March 2026,” it stated.
The refinery, however, clarified that customers operating under existing credit arrangements would still be accommodated, subject to covering the price difference.
